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Attachments: Mister ED's 4 hour Heikin Ashi system
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Mister ED's 4 hour Heikin Ashi system

  • #1,321
  • Mar 29, 2010 4:59am Mar 29, 2010 4:59am
Good day to all still on this thread.

A big thank you to Mister ED for his system and to LongBar for the programming of the EA.

I’ve looked at many EA’s before and although FAB Turbo and Pips Leader made me good profits both robbed me thereof in the end.

Although Mister ED claims the system [a gem if you’d ask me] to be mechanical it is not. Why? Had it been live trading with the EA set to his strategy would have been able to achieve the same results. My personal view is that trading per say is an art and not a science. Why do I say this. I’ve often stuck to trade rules and got burnt. On the other hand I’ve bailed out and could have made a killing. Enough said on this matter.

After slogging through this thread, I think the system to be a worthwhile venture to pursue. To this I’d like to ask LongBar if he could kindly find time to alter the EA such that it only sounds an alarm when a trade is immanent, giving the trader the option to trade or not.

Adding to this, is it possible that the suggested trade [Entry Point, TP1, Stop Loss and final Exit, TP2], as per EA, be indicated to ease the placing of such trade to be made.

Regards
AubreyCraller
  • #1,322
  • May 22, 2010 7:40pm May 22, 2010 7:40pm
Hi

Is anyone using the EA developed for this trading method or is anyone still doing it by hand?

I have been looking for a longer term system that I don't have to watch all the time as I do have a day job I must be at and this system looked like it may work for me.

There was alot of interest but it seems to have died out. I was going to do some testing by adding some of the other ideas suggested, such as ADX, CCI, and maybe even Trix and a couple MAs to see if any of those would increase the hit rate a little.

Has everyone blown out there accounts or are you all millionaires now?

Thanks
  • #1,323
  • May 23, 2010 7:38pm May 23, 2010 7:38pm
Here is a screen shot of what I am doing to see if any of the indicators mentioned on this forum have any effect on increasing the winning percentage of this method. This is a very simple EA and does not have all the Bells and whistles of the Mr Ed EA, as I am just looking at what these other indicators can do. The TP, TPH, SL, and SLH only give a number when a trade has been taken, so that is why they are all 0.00000. The TPH and SLH are hidden so the Broker only sees the TP and the SL values, of course if you lose your network connectionthe TP and SL will save you. The trade window is only active for the last 5 minutes of the candle, this is when a trade can be taken if all are green for a long or red for a short. Yellow means conditions have not been met. The "Candle Wicks" and "Candle Body" are just ratios of wicks and bodies to try and stay away from candles like Dojis or similar. The EA can also be set to take only Long or Short trades if you want to and I can also set it to take more than one trade in the same direction if the first one is closes and the indicators are still all green or red, it will be taken durring the last 5 minutes of the next candle.
Like I said, I am just looking for something I don't have to "Baby Sit" all the time, I have been trading the 15 minute time frame but that requires constant monitoring which is hard to do with a day job.
Edit: The number at the top of the column is the candle clock, when it reaches 5 (minutes) it will be in a possible trade window if all conditions are met.
So Please, let me know if you are still using this method or is it a waste of time.
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  • #1,324
  • Nov 2, 2010 4:06pm Nov 2, 2010 4:06pm
Quoting Mister ED
Hi Guys

My feeling is that the system doesn't work on a lower time frame but it is good that you also have confirmed this

Mister ED

hi

how has this system been performing lately ?
  • #1,325
  • Nov 4, 2010 6:15pm Nov 4, 2010 6:15pm
Quoting whatfx
hi

how has this system been performing lately ?
I have been trading this in the background all year and haven't been posting the results as I found it took too much time. The system has been doing steady work and has been giving positive results every month. I have been developing another system which I am now trading at the same time as this system. They work differently and seem to compliment each other to give a steady return.

I have limited myself to trading just GJ, GU,EJ,EU,EG,AJ,UJ. I also have optimised the trade time by looking at the results over the last several years and trying to see what times are the best to trade for each pair. Some may say that this is "cherry picking" but I say it is just looking at past performance. Obviously you still loose some trades and you will miss some good ones. However I am also helping to limit the time that my money is exposed to the vaguaries of the market.

Overall this year has not been quite as good as last year, but it still works!

All the best
Mister ED
  • #1,326
  • Nov 6, 2010 8:05am Nov 6, 2010 8:05am
long time,
good to know that the strategy is still up and generating green pips.
am interested in your latest optimization of the system.
it is better to miss than to loss pips
  • #1,327
  • Nov 6, 2010 1:48pm Nov 6, 2010 1:48pm
Quoting Mister ED
....
I have been developing another system which I am now trading at the same time as this system. They work differently and seem to compliment each other to give a steady return.
....
All the best
Mister ED
Hi Mister ED!

Thanks for your kind reply.
I wonder if you could give us a hint (or link, description...) of your other -and complementary- system.

Thanks a lot

Forex37
  • #1,328
  • Nov 7, 2010 8:21am Nov 7, 2010 8:21am
Quoting Mister ED
I have been trading this in the background all year and haven't been posting the results as I found it took too much time. The system has been doing steady work and has been giving positive results every month. I have been developing another system which I am now trading at the same time as this system. They work differently and seem to compliment each other to give a steady return.

I have limited myself to trading just GJ, GU,EJ,EU,EG,AJ,UJ. I also have optimised the trade time by looking at the results over the last several years and trying...

are you able to post a quick results for this year ?
  • #1,329
  • Nov 7, 2010 9:00pm Nov 7, 2010 9:00pm
Hi all

The current system has netted 17457 pips over the year using the seven pairs that I trade and using 2 parts to each trade as described.

As far as optimisation it relies on forward testing results over the last 9 months. These vary for each pair and are relative only to the correct candle times and therefore it is not worth describing them all here. They can be calculated by looking at the results form back and forward testing. This is the only way to get a good understanding of the system.

The other system taht I use is based on moving averages but I won't be starting a thread for this as it takes up a lot of time. It probably can't be easily automated, just like this system turned out to be. I will admit that I have looked back at things and realised that despite trying to get a fully automated system there is a small degree of discretion involved.

However overall the method can work, it has ups and downs, sometimes they are scarey, but it can generate a reasonable return for the effort.

All the best

Mister ED
  • #1,330
  • Jul 5, 2011 4:55pm Jul 5, 2011 4:55pm
Hi Mister ED ! Thanks for your great system, it really looks promising ! How is it doing now ? Is this yout primary strategy? Thanks for your answer in advance !
  • #1,331
  • Aug 26, 2011 4:55pm Aug 26, 2011 4:55pm
Is anyone using the EA? and if so hows it doing? I just threw 1.6.2 on a practice account to let it run for a couple months while I finish reading over the thread and figure out what all the options are.

You get a feeling systems work when they draw this much attention. Thanks Mr Ed and Longbar and all others who helped!
  • #1,332
  • Aug 27, 2011 5:36pm Aug 27, 2011 5:36pm
Quoting Mister ED
Hi all

The current system has netted 17457 pips over the year using the seven pairs that I trade and using 2 parts to each trade as described.

As far as optimisation it relies on forward testing results over the last 9 months. These vary for each pair and are relative only to the correct candle times and therefore it is not worth describing them all here. They can be calculated by looking at the results form back and forward testing. This is the only way to get a good understanding of the system.

The other system taht I use is based...
Wow Mister ED
this is a great result
I'll read the thread
hope to find your updated sys inside this 80 pages-thread

I love FF but I don't like all of this reading

thx for sharing
Account deleted
  • #1,333
  • Sep 3, 2011 7:47am Sep 3, 2011 7:47am
Just want to share..if we add the T@H (THV4 Coral indicator),it might help to filter false signal. It mean that only buy when HA above Coral & Sell if HA below Coral ..Of course it might make missing huge pips from reversal breakout at the top or bottom,but i think it's much safer.For exact Entry Point or SL is up to each one style ( going to lower TF , wait for retracement,etc).At least this pic can help us decide in which trend we are now ( Uptrend,Downtrend or ranging ).. Good Luck !!
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  • #1,334
  • Edited Sep 7, 2011 10:36am Sep 6, 2011 11:02pm | Edited Sep 7, 2011 10:36am
Ive had the EA running on 11 pairs, on 4hr TF for a little under 2 weeks now and it has not made 1 trade. Did I do something wrong or something I need to change? I do have 'Allow live trading' checked in the EA options and have it turned on in MT4 with the little smiley faces showing on all charts. IDK, IDK


EDIT: Nevermind, I figured it out. I only had 'Heiken_Ashi_Smoothed_Alert' in the indicators folder and the EA calls 'Heiken_Ashi_Smoothed' for its trading determination.
1st trade us/cad -35 pips lol. I still need to get it setup on the right pairs and days.

Thanks again all!!
  • #1,335
  • Sep 16, 2011 11:02am Sep 16, 2011 11:02am
i don't know why this thread is so quiet.
using the original strategy posted by mister ed results in great financial gains every day.
i am screening the charts every evening and normally have a couple of pairs to trade daily.
thanks to mister ed for this money making machine!
meine augen sind die sterne
  • #1,336
  • Sep 17, 2011 1:30am Sep 17, 2011 1:30am
Quoting aserbfx
i don't know why this thread is so quiet.
using the original strategy posted by mister ed results in great financial gains every day.
i am screening the charts every evening and normally have a couple of pairs to trade daily.
thanks to mister ed for this money making machine!

I agree! I used to trade it. My problem was checking every 4 hours. I need 7-8 hours sleep. How do you get around that?
  • #1,337
  • Sep 17, 2011 11:21am Sep 17, 2011 11:21am
Quoting alllivemind
I agree! I used to trade it. My problem was checking every 4 hours. I need 7-8 hours sleep. How do you get around that?
i just look twice a day at the misted ed charts. in the morning and the evening, so about every 12 hours. no prob with this. sometimes i get into a trade a little later, but who cares if the overall performance is just absoultely stunning...
meine augen sind die sterne
  • #1,338
  • Sep 28, 2011 1:12am Sep 28, 2011 1:12am
So since Sept 7th when I got it working, its made 580ish pips, if anyone is interested. I did all the days just like Mr Ed suggested, but I added Usd/Chf in place of Usd/Gold (since congress fudged that all up) and so far have not filtered out any days on it.
  • #1,339
  • Oct 3, 2011 10:48am Oct 3, 2011 10:48am
Dear MisterED,
First of all, thank you for this system as it is one of the best systems i have ever met in terms of success. However, may I add my thoughts of the system.
Personally I think the way you trade this is decent, but not reaching its potential. In my opinion you are cutting your winners with those ATR..
So, if you are interested, let me show you how i DO TRADE this one (and is gaining huge profit, more than one can imagine)

I use 1 hr instead of 4hr TF, BUT ACT ONLY, when 1hr heiken changes colour, but only if its the same as 4hr heiken candle ! The setup has much less succes rate if I take a signal which goes against the main trend (4hr). SL set to ATR is good, but I do not give it a TP. I take profit, when 4hr heiken changes colour.However I set the SL to breakeven when I have the feeling, but actually this is not needed. And then I start to do the other way around... Choose pairs, that are trending. And yes, it needs a lot of time, but I'm sure it's still working with 4hr-daily combination.

Thanks, and take care.
  • #1,340
  • Oct 5, 2011 11:15pm Oct 5, 2011 11:15pm
Quoting aserbfx
i just look twice a day at the misted ed charts. in the morning and the evening, so about every 12 hours. no prob with this. sometimes i get into a trade a little later, but who cares if the overall performance is just absoultely stunning...
Hi aserbx,

I used to trade Mister ED's but haven't done so for a couple years. I'm glad to hear you're having success. Do you have an MT4i or MyFxBook account we could look at for more details? Or even just a spreadsheet that shows the entries and exits?

Best regards,

JR
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